Taiwan's TAIEX hits 2-month low on weak US tech earnings

Taiwan's TAIEX index plunged 1,446 points, or 3.1%, to 44,922 on Friday, hitting its lowest level since August 24 and heading for a monthly decline, driven by weak US tech earnings and falling stock futures. The drop was led by a 3.6% fall in electronic technology, with TSMC down 1.9%, while MediaTek, Hon Hai Precision, and Delta Electronics fell 4.6%, 9.8%, and 3%, respectively. Technology services also slid 4.2%, pressured by Wiwynn Corporation's 5.0% decline. The index was set for a 1.1% weekly loss and a 6.3% monthly drop, reversing the previous month's gain, amid a broad sell-off in technology stocks across the market.